Asterias, a digital insurance software and data capture platform for aviation asset and loss management, has secured a strategic investment from Lloyd’s of London, a global insurance and reinsurance marketplace, aimed to advance its digital infrastructure.
The investment follows earlier backing from Insurtech Gateway and a group of industry investors. The fresh capital will accelerate product development and scale Asterias’ footprint across global airlines, lessors, brokers, and insurers.
Across aviation insurance and leasing, information is often trapped in documents and email, then manually re-entered and reconciled by insurers, brokers, lessors and airlines.
Asterias eliminates this friction by capturing data a single time at creation, ensuring it stays firmly under the control of its originating organisation.
Rather than building another central store of copied or synchronised information, Asterias keeps the source record with its creator. Authorised parties can access the information they are entitled to see, with access changing as relationships around an asset change and reflecting the rights each party holds under the relevant policy, lease or service agreement.
Information can still be exported or shared as documents and exhibits where needed but these remain static snapshots. The underlying record retains its ownership, provenance and permissions.
Issues surrounding governance also present a challenge. Within any aviation asset relationship, stakeholders rely on one another to execute tasks, whether it is adjusting a loss, approving a claim or maintaining an aircraft, yet few can easily see what has been done, by whom, or what is still outstanding.
Asterias addresses this by providing each participant with a verifiable record of activity, strictly tailored to their authorised level of access.
The investment will support continued product development and market expansion as Asterias works with airlines, insurers, brokers, lessors and other participants across the aviation insurance and leasing ecosystem.
Andrew Walker, CEO of Asterias, said: “Too much of the information generated when something happens to a complex asset is still trapped in documents, emails and disconnected systems. Every party then has to create and maintain its own version of the information, even when that information originated somewhere else.
“Asterias takes a fundamentally different approach. We capture information once and keep the underlying record with the organisation that created it. As the relationships around an asset change, access to that record can change with them, based on the rights each party already holds.”
Adding: “That means Asterias is not creating another competing version of the record. Documents and exhibits can still be exported and shared when they need to be, but the underlying record remains authoritative, with its ownership, provenance and permissions intact.”
Rosie Denée, Director of Innovation and Commercial Engagement, Lloyd’s, commented: “Asterias is a strong example of market-led innovation coming through Lloyd’s Lab. By improving how asset and loss data is captured and shared across insurers, brokers and asset owners, it tackles a long-standing source of friction in the market. Solutions like this have the potential to improve efficiency and transparency, helping the market better support customers and the real economy as they scale.”
A Lloyd’s Lab alumnus, Asterias was developed in collaboration with specialty market participants and is now working with airlines and insurance market participants to develop infrastructure for governing and sharing asset, lease, policy and loss information across the wider aviation insurance and leasing ecosystem.”
